-----No they are not realistic and out of reach for common man.. but they seem to be selling.. maybe not in volumes..

Will they come down in the near future ?----- Difficult to predict.. Hopefully they would.. When is difficult to judge (maybe never).. But the current prices may not rise any further across Mumbai.. Maybe some pockets will continue to rise.. but not the kind across Mumbai this year

I think from 2012 - 2014 there will be plenty of inventory of flats from 2 crore to 10 crores with no buyers.. across MumbaiThere is demand only in the 30 to 70 lakhs sector and that is the reason, you see the huge demand in areas like Dombivili and Panvel.. that is what an average guy can afford..

Price are only going to go up, however only people who don't have any options are going to buy...first of all 95% of flat are sold out before anyone knows, secondly if you are the lucky 5% you would be given non vastu desired flats, to top there wont be any sample flats. So buying a house with 1+ Crores ($220,000) with no water guarantee, almost 40% loading and no real choice of flat direction is something which only people with lot of Black money or people with no options would go for.

RE prices in MUMBAI are highly corelated to Stock Market, Economy (in - serrial order). As long as Stock doesnt doesnt crash i dont see RE prices in mumbai coming down despite all adverse fundamental factors. RE is the one best investment vehicles for HNI's, Corporates to park their surplus money generated from the stock markets. Besides lot of RE companies are listed on brouses with alteast dozen waiting to get listed. Stock exchange provides a medium for RE to raise funds enabling them to hold prices in a dwindling demand scenario.

Today every one wants to own a house - The mad rush to buy properties in areas like New Panvel, Raisyani is no surprise to me as average middle class who cannot buy house in Mumbai is really left with no option. He may not live in flats purchased in the areas mentioned above but the dream to own a flat forces him to buy one. I'm sure, majority of the buyers in the projects like India Bulls Green are first timers.

Price are only going to go up, however only people who don't have any options are going to buy...first of all 95% of flat are sold out before anyone knows, secondly if you are the lucky 5% you would be given non vastu desired flats, to top there wont be any sample flats. So buying a house with 1+ Crores ($220,000) with no water guarantee, almost 40% loading and no real choice of flat direction is something which only people with lot of Black money or people with no options would go for.